Consensus Picks Review

Consensus Picks is one of the services I’m using now, and even though I did have my reservations at the start, it’s making me some serious money that I’m forced to admit I was wrong to have any doubts at all. In fact, I’d go so far as to say that it’s the best advisory service out there.

The Road to Consensus Picks

I joined online trading a few years ago and started out by trying to do all the analyses myself. And to be honest, I wasn’t really good at it.

So then I decided to seek help from the experts. But the problem was that most of the real experts dealt with multimillion accounts. For small potato accounts which had only a few thousand dollars, what you usually get are the people whom no one would really call experts. They’re like the folks in the movie The Wolves of Wall Street. Their only expertise is to sweet-talk honest folks into parting with their hard-earned money.

But the most reputable stick analysts weren’t much better either. One story that ran in the Wall Street Journal found that buying the top 10 most popular stocks from 2008 to 2012 resulted in a loss of 11%. But if you had an index fund that tracked the S&P 500, it would have resulted in a 9% profit. And what’s really surprising is that if you had bought the 10 least popular stocks each year you would have earned 16% profit on your investment over a period of 5 years.

Still, I hunted for the most viable experts and programs, and that’s how I stumbled upon Consensus Picks. I knew someone who was an affiliate for the program, and he asked me to check it out.

The 4 Rules to Remember

But before I put in some serious money in any investment program, I always made sure I was following 4 fundamental rules:

Know what you’re getting into. Before participating in the investment program and buying recommended stocks, I need to fully understand what I was really getting.

Start small. Even if I think I understand the program, I need to first test the waters, so to speak. I always start small when dealing with new investment programs.

Never spend money you cannot afford to lose. The money I invest does not come from my life savings or my household monthly budget. Not even your child’s college fund. In a way, getting into an online investment program is like gambling.

Never consider it as your only source of income. I never rely on any particular investment program as my sole source of income. Again, there’s no such thing as a sure thing in stocks, no matter what the gurus will tell you so you need to make sure you have other ways of making money.

I considered all these before deciding to use Consensus Picks.

Consensus Picks Features

Consensus Picks is an investment program that finds picks recommended by more than one source. These picks are then thoroughly analyzed by Manny Backus and his team at Wealthpire, Inc. Previous picks include Skechers (which gained 67.67% in less than a year after the recommendation) and Starz (which was trading at 16.52 a share when I was alerted and has since climbed to $30.72 a share).

Let’s start with the cost of the investment program. To start with, I only needed to part with $7.67 and I got a free 30-Day Trial. It’s “free” because the shipping and handling fee is the only thing you need to pay for at first.

Once I realized that there’s something to Consensus Picks after all, I paid $99 a month for the services. That’s not a big deal really when you compare to how much expert advice cost in the industry.

With the $7.67 that I paid initially, I got the “The Top 5 Stocks to Buy Now Special Report” along with the trading blueprints. These blueprints offer very specific guidelines on when to buy and sell the recommended stocks.

The other package I received was the Fast Starter Kit, which was sent to my home via postal mail. This explains why they charge $7.67 to avail the free trial. The package included a DVD and transcripts explaining the use of the alert service, plus a Member’s Only card with the trading center web address, support email and phone number.

The meat of the service is in the members website access. That’s where I get the weekly stock picks, along with some helpful updates on previous recommendations. Adjustments are offered so as to maximize returns.

Oh and did I mention they have excellent customer support? If you have any questions you can contact their customer support team available through email or phone. All these for $99 a month, which you can cancel anytime.

And even if you do want to cancel your subscription, the early reports you get are completely free of charge. These reports include:

The 10-Second Secret for Income Investors. This is a secret indicator which allows me to identify undervalued stocks on my own.

How Aggressive Investors Can Supercharge Profits With Options. This explains the use of options and how they can multiply your profits while minimize risk.

How To Protect Yourself From Uncle Sam’s Prying Eyes. It’s a guide on maintaining your security and privacy online.

Profit Like A Pro In An Hour A Day. It’s an explanation of how the top traders make money on a daily basis.

Obscene Profits From Ugly Stocks. How to “short” stocks.

These reports cost $41 each, and you get all of them once you take advantage of the free membership trial.

As for the requirements, you need at least $5,000 and a basic stock brokerage account through which you can place trades by phone or online. You also need an email account to get the email alerts.

Pros and Cons

Let’s start with the most obvious advantage of Consensus Picks. It’s not a well-known stock market prognosticator—and that’s a good thing. That’s because when too many famous experts promote a certain stock, it will create demand. And when that happens, the demand drives the price of the stock up so buying it becomes more expensive. The relation of risk and reward suddenly becomes less favorable.

With Consensus Picks, the number of clients they accept is also limited. Currently there are only 475 (and counting) slots left. When the slots are filled, the membership is closed. This ensures that not too many people know about the stocks and only when the mainstream press finds out about these stocks do the prices go up, which then boosts profits.

The only downside which should be noted in this Consensus Picks Review is that their marketing can be rather off-putting. From January 4, 2013 and February 13, 2014 Manny Backus claims to have made 469.52% in profits from his picks. This is theoretically possible, but a real expert will tell you achieving this feat requires truly aggressive investments. And while you may be playing around with money you can afford to lose, in general this can be too risky.

So do what I did and start small. Don’t risk too much and only increase your investments when your account grows substantially. That way, you earn money without worrying too much.

The picks from Consensus Picks are usually spot on, and with wise investment decisions, you can earn a lot from it like I do.